Pune Builders Property -Trap for IT People

* Property market in Year 2001 -2004 was quiet Ok , People were able to buy Flats in reasonable rates .



*Year 2005 -2006 , Some of the well known builders started the rates boom , flat which was at the cost of Rs.900 Sq Ft now became 2200 to 2800







Q: Are there any additional facilities ?



--> No Same Scheme/Area , Flat sold at 10 Lacks Now selling at 25 Lacks . (Baner ,Aundh , Kalyani Nagar ,Pashan,Other areas)







Q: Why Property increased so High ?



--> IT people competition to buy sweet home .







Q: Who is going to Benfit from this Property Boom ?



--> Only Builders and some of the Politicians







Q: How is the Bank's support on Home Loans ?



--> Last Year , Bank gave the loan's at flexible mimimum rate,Now Banks has sufficient number of customers ,



(Trap) Slowly Banker's increasing interst at \% 0.5 every month .







IT People Who bought house for 22 Lacks for 20 Yrs , Now became 23 Yrs with raise of 0.5 \%







Q. How some IT people can face the problems in Future ?



--> Companies are Project Based , If Projects are there then People will not be there .







Q. IT salaries are high in Market , How much actually IT-people getting in Hand ?



--> People, Who bought house of 22 Lacks to 40 Lacks They need to pay EMI



15,000 to 35,000 for 20 Yrs. If Bank keeps same interst rates .







Suppose Salary is 35- 40 K Per Month, 20K will be the EmI







Q. Is there any "Terms & Condition or Processes to increase rates" ?



--> No , Depends on Buiders Greediness . Every builder follows the different strategies







Builder sold one flat 1500 Per Sqft in Morning and 1800 Per Sqft in the Evening ,



There are no records maitained .







Q. Who made builders smart & greedy ?



--> Fool IT people .



No body is asking , Flat was sold at 12 Lacks , Why now 24 Lacks ?







Q. Is Corporation water & MESB available to all schemes ?



--> Some of the area don't have the Corporation water at all , People surviving on Water Tankers.



** MESB .. Under Table ,can be managed easily .







Q. What will be the condition If We are not able to Clear the Loan ?



--> Depends on individual capabilities











Q. How We can stop Builders -Property Boom ?







1) IT People should stop buying flats for atleast next 1-2 Yrs .







2) Onces rates are reasonable , With some legal process get the Booking .







3) Check Facilities, Convince, Road Approach, schools & Mainly co-operation water







Don't go by certification and best project ,One of Project in the Baner got awards for best building & all, but Buildings Looks like Loading & Boarding.







4) Ask Questions If I buy 2 BHK in Pashan , Aundh Baner ,Kayani nagar, Pimple Saudhagar & other areas at 12 to 30 Lacks , Do I get reasale value in future?







5) Today you are capable for paying 1000 -3000 maintains per month ? Will will be the same case after 20-30yrs after retirement .







6) In All, Don't stretch more to get the more & more loans other wise it will create unnecessary pressure and tension .











We Needs revolution....if we ask for it then only we will get it....



Some Action needs to be taken from the local authorities...

there should be some index for property rates.